New Hope is watching the performance of Malabar Resources’ coal mines in NSW, examining the case for increasing its minority stake after bolstering its balance sheet this month with a $300 million convertible bond issue.
In February, New Hope lifted its stake in Malabar to 19.9 per cent with a $76 million cash injection in exchange for an additional 4.9 per cent.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
